The Bombay Stock Exchange (BSE) on October 04, issued a notification regarding the submission of the Internal Audit Report for half year ended September 30, 2024, through BEFS (BSE Electronic Filing System).
The following has been stated: -
•The audit shall be conducted only by independent qualified Chartered Accountants or Company Secretaries or Cost and Management Accountants who are in practice and do not have any conflict of interest in or relation with the member other than the internal audit assignment.
•The quality of internal audit reports received from members shall be monitored and appropriate steps shall be taken if the reports do not meet minimum expected quality levels. In case the internal audit report submitted is incomplete and not per the guidelines like sample size not given, only certificate submitted without report or management comments not provided, etc., the same would be treated as non-submission of the internal audit report. Stock brokers are strictly advised to submit the report in the format the Exchange prescribes.
The detailed notification is given in the document below.
[Notification No. 20241004-63]
